Commercial Loan Mortgage Rates Texas.

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As of October 2024, commercial loan mortgage rates in Texas are experiencing a wide range of rates due to various economic factors. Here's a summary of the current landscape:

1. General Rates:

   • Fixed Rates are generally between 5.22% to 6.5%. For example, a 10-year fixed rate mortgage is around 6.22%, while other fixed rates can go up to 6.67% depending on the type and amount of the loan​

     
     

   • Variable Rates fall within the range of 5.75% to 6.77%​

     
     

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2. Specific Loan Types:

   • SBA 7(a) Loans: Rates can range from 6.75% to 8.5% depending on the loan specifics.

   • SBA 504 Loans: These are more favorable for real estate and equipment purchases, with rates around 6.39% for 25-year terms and 6.45% for 20-year terms​

     
     

3. Market Influences:

   • The market is currently influenced by the Federal Reserve's monetary policy, which has resulted in rising interest rates due to attempts to control inflation. The current prime rate is 8%, which directly affects loan rates​.

     
     

   • Economists predict that while 2024 will see challenges, there may be a softening of rates in the latter half of the year if inflation continues to decline​

     
     

4. Borrower Factors:

   • Your credit score, the size of the loan, and the length of the loan term will significantly influence the interest rates available to you​

     
     

5. Advice:

   • It’s advisable to shop around and compare rates from various lenders, as different financial institutions might offer different terms and rates based on their internal criteria​

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6. Bridge-Hard money loans. 9% to 12%.

If you're considering a commercial loan, it's crucial to assess your options carefully and perhaps consult with a financial advisor to navigate these rates effectively. For a deeper dive into the specifics, consider checking out sources like CommLoan or Select Commercial.

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